Insider discloses the reasons behind the failure of Red Bull's multimillion-dollar partnership with Porsche.

It has been nearly four years since one of the most remarkable partnerships in Formula 1's history unraveled in the late summer of 2022. Red Bull and Porsche had planned to collaborate in grand prix racing, but Red Bull withdrew at the last minute following extensive negotiations.

Those involved have seldom discussed the failed mega deal publicly. However, Fritz Enzinger, who was leading Porsche Motorsport and overseeing the Volkswagen Group's motorsport initiatives at that time, disclosed the extent of the negotiations in an interview recorded on 29 July 2026 for a members' roundtable on the Formel1.de YouTube channel.

Enzinger mentioned that there had been "a handshake between [VW CEO] Oliver Blume and [Red Bull co-founder Dietrich] Didi Mateschitz" – the key figures on both sides when the deal was in the works.

He also corroborated reports from that period indicating that a joint press release was already in the works: "It is true that the plan was to go public at Spielberg or at the subsequent race."

In his account, the public announcement was postponed because "there were still some aspects of the regulations that had not been fully resolved. It was clear that if you made a commitment and declared your entry into Formula 1," it would have been challenging to implement the regulatory changes to the power-unit rules that Porsche and VW were seeking.

Fritz Enzinger led Porsche Motorsport at the time

"Because of that, we simply allowed for some flexibility and said: 'Alright, we’ll wait until the next race'."

It wasn't Porsche – Red Bull suddenly lost interest in the deal

However, the announcement was not just delayed – in the end, it never occurred. Enzinger recalls that during those crucial days, there was "a shift in direction" at Red Bull, "and thus the entry simply didn't materialize."

Enzinger refrained from speculating on the reasons behind Red Bull's change in stance. What is clear is that "Didi Mateschitz was already in very, very poor health by then," while negotiations involved not only the Austrian shareholders, who owned 49% of Red Bull GmbH, but also the Thai majority stakeholders.

"And that was when the switch simply happened," he remarked.

Enzinger dismissed rumors suggesting that Porsche was also in talks with other teams at that time as unfounded: "During that phase, Porsche only ever engaged with Red Bull... The situation was unique, and because we focused solely on that, we essentially did not have any concurrent discussions.

“From Porsche's perspective, there truly was only one objective: to enter Formula 1 alongside Red Bull."

Red Bull ultimately partnered with Ford instead

Before the deal collapsed, both parties had already signed a letter of intent that encompassed much more than just providing a power unit. Porsche intended to supply the power unit to Milton Keynes - and acquire 50% of Red Bull's Formula 1 operations. It was characterized at the time as a "partnership of equals".

Enzinger: It's a positive outcome that only one VW brand is in Formula 1

Ultimately, the Volkswagen Group opted to enter Formula 1 with only Audi, rather than both brands it had considered. The Ingolstadt-based manufacturer took over the Swiss Sauber team, which has been competing in the world championship as the Audi works team with Nico Hulkenberg and Gabriel Bortoleto since 2026.

As much as Enzinger would have liked to see "his" Porsche brand enter Formula 1 with Red Bull back then, four years later he believes that the deal's failure also had its silver lining.

"In retrospect, considering how challenging the automotive industry's situation is now, I think there is something positive about the fact that it fell through," he stated. "It's good that Audi is involved, one brand from the group. However, I truly find it very, very difficult to envision that having two brands would have been feasible."